That is pretty much my plan... just add the average summer water bill to the rent, plus maybe 10%, and have a cap so they must pay any excess.

All my single family homes have a cap rate of 20%-50% and my duplex 50%.

LOAN: 30yr VA Loan @ 3.75%, No downpaymentCAP RATE: I am calculating a cap rate of 8.8%.

However, a capable contractor would know that metal is a highly target item for theft as it can be scrapped.

and it's nothing close to what I would call a cap-rate - it's so common I was wondering if that there was some other definition used to ballpark prices.  

You can do both if you go about it the right way. do you feel there will ever be a cap..

If they are in your tenant's names, they will be charged appropriately for their behavior.If you're unable to get utilities transferred in the short term, maybe state that your property management standards have put a cap on what they'll pay for utilities or something like that.Good luck!

Thinking along the same lines as a cap rate.My other question would be how does the bank view this from the ability to qualify for additional loans using the income? 

@Jay Hurst Hey Jay, Yes they do they have a cap in each ward, when it comes to downtown Savannah.

Is there a cap?